Common use of Contract takeover Clause in Contracts

Contract takeover. 1. Contracting party shall not have the right to transfer any obligation from the Agreement to third parties without the written consent of Contractor. Insofar as Contractor may have given written permission for a contract takeover, Contracting party shall at all times be jointly liable with such third party for the obligations from the Agreement of which these General Terms and Conditions constitute a part. 2. Furthermore, insofar as Contractor may have given written permission for a contract takeover, Contracting party shall inform Contractor in advance thereof and Contractor shall have the right to terminate the Agreement as per the date on which the transfer comes into effect. Contractor shall not be held to pay any compensation for damages in such an event.